Covington Representation Named IFLR Africa Deal of the Year

JOHANNESBURG—IFLR has named Covington’s representation of International Finance Corporation (IFC) in its equity investment in Equity Group Holdings Plc the Private Equity Deal of the Year at its IFLR Africa Awards 2022.

IFC increased its existing shareholding in Equity Group Holdings, a leading banking group in Eastern and Central Africa, through an additional equity acquisition, making it the second largest shareholding in the company. The transaction is expected to have a high development impact and promote greater financial sector resilience for Equity Group Holdings in Kenya.

Muzi Kubeka and Deon Govender led the Covington team representing the International Finance Corporation.